Best apps for stock trading in Europe
The best stock trading app in Europe - Degiro
The best stock trading apps in Europe:
Degiro - Best for the EU
eToro - Best international broker for beginners
RoboForex - Best for swap-free trading
XTB - Best for day trading
Interactive Brokers - Best Overall Stock Broker
In today's fast-paced digital world, choosing the right stock trading app is essential for both beginners and professional traders. This article dives deep into the top 5 stock trading apps available in Europe for 2023, offering comprehensive reviews on their features, supported markets, fees, and unique selling points. So whether you're looking to invest in global giants like Facebook, Tesla, or Microsoft or just starting out, read on to find the perfect platform for your needs.
Top 5 best apps for trading in Europe
Degiro
DEGIRO is synonymous with efficient, straightforward stock trading. Favored for its low fees on numerous US and European exchanges, DEGIRO stands out with its offerings and seamless account opening process, which requires no minimum deposit. While there are no inactivity or withdrawal fees, trading US options comes at a €5 monthly fee. The platform offers affordable stock trading on over 50 exchanges spanning 30 nations. With its roots in the robust regulatory framework of BaFin, DEGIRO is a trusted platform for traders across Europe.
DEGIRO, having expanded across 18 European countries, offers retail investors a highly competitive commission structure. FlatexDEGIRO AG, holds a distinguished spot on the SDAX, ranking among the top 160 listed companies in Germany. DEGIRO sets itself apart by granting access to global exchanges in regions like Australia, Japan, and Hong Kong.
Connection fees are capped at 0.25% of a client's total portfolio value annually for most exchanges, not exceeding €2.50. However, exceptions include the Irish Stock Exchange with €0.00 fee and a €5.00 monthly fee for US options. Only if a transaction is made or a position held during the year are these charges applied. Notably, the commission for US stocks stands at €1 plus €2 for handling, while the Irish stock commission is set at €2 with a €1 handling fee.
Extra features
Comprehensive educational tools
Affordable stock trading on more than 50 exchanges spanning 30 nations
Pros and cons
👍 Pros
• Competitively low fees
• Top-tier regulatory oversight
• User-friendly web and mobile interfaces
👎 Cons
• Research tools are limited
eToro
eToro has positioned itself as a groundbreaking trading platform, fundamentally revolutionizing how individuals approach investments with its unique social trading experience. This innovative feature allows users to observe, learn from, and even replicate the strategies of seasoned investors across an array of assets like stocks. By doing so, eToro bridges the knowledge gap, offering novices a chance to leverage the expertise of more seasoned market participants.
Diving into specifics, eToro offers a collection of 2,090 stocks, making it a considerable hub for stock trading. What amplifies its attractiveness is the absence of fees or commissions on stock trades. There are no withdrawal charges; a minimum withdrawal limit of $30 exists. Additionally, traders should be cautious of a $10 monthly inactivity fee if their account remains inactive for over a year and a $75 transfer fee when transferring their accounts elsewhere.
The discovery page, search bar, and home screen are streamlined to aid traders in locating their desired stocks effortlessly. The ‘Trading’ tab further simplifies the process, letting users view, buy, and sell stocks with a minimum account balance of just $10.
Stocks are safeguarded by the Securities Investor Protection Corporation (SIPC), ensuring the protection of up to $500,000 for its members.
Extra features
Advanced search capabilities with a dedicated discovery page and search bar
Pros and cons
👍 Pros
• Low account minimum for stocks ($10)
• Commission-free stock trading
• Extensive stock range
• SIPC protection for stocks and ETFs
👎 Cons
• Stock options only
RoboForex
RoboForex, established in 2009, is a prominent player in the brokerage industry, extending its services to financial markets across 169 countries. Today, it boasts a clientele of over 3.5 million users, setting it apart as a trusted name in the Forex sector. Several accolades and its international licensure from FSC Belize (license No. 000138/437) affirm its credible standing.
Diving into its offerings, RoboForex presents a compelling case for stock trading. It provides access to over 3,000 US and stock options, making it a diverse and extensive platform for traders. One of the broker's significant attractions is its fee structure. With a nominal fee of just 0.025 USD per share for general trades, the broker further incentivizes more extensive deposits by offering a reduced fee of 0.009 USD per share for deposits exceeding 10,000 USD. RoboForex, given its rich history, credibility, and diverse offerings, makes a compelling choice for novice and seasoned stock market traders.
RoboForex lets you access rapid online quotes and top-tier stock exchange charts with the industry's leading technical analysis tools. Moreover, you can benefit from leverage up to 1:20 and automate trades using the user-friendly robot builder. The broker operates under FSC license No. 000138/437, which makes it a safe and regulated broker for stock trading.
Extra features
Trading robots builder: Simplifying and automating the trading process
Pros and cons
👍 Pros
• Minimum deposit of just $10
• Instant withdrawal of funds
• Highly favorable trading conditions
• Numerous trading instruments
👎 Cons
• Limited currency pairs (36) for select accounts
• No cryptocurrency tools on the R StocksTrader platform
XTB
XTB is renowned primarily for its strong forex market foothold. It offers an expansive portfolio of nearly 2,000 global stocks. XTB offers more than 1,000 stocks from two of the most influential stock exchanges in the world, the NYSE and NASDAQ. This selection includes the heavyweights of the business world like Apple, Tesla, Amazon, and Disney.
A distinctive feature of XTB is its coverage of 15 European markets. Traders can explore investment options from various countries, such as the UK, Switzerland, Portugal, France, Germany, and Norway. This diverse offering is particularly enticing for those looking to expand their reach beyond the US. The broker doesn't offer the same diversity for Asian and South American markets.
Most supported stocks provide a maximum leverage of 1:5, allowing traders to maximize their potential returns. Furthermore, XTB's trading conditions are tailored to cater to a wide range of traders. US-listed stocks can be initiated with a modest investment of $50, while UK-listed stocks require a slightly higher starting point at £100.
Deposits made through debit/credit cards or bank wires are devoid of any fees. However, for those who prefer e-wallets, a fee between 1% and 2% applies, covering popular options like Skrill, SafetyPay, and Neteller.
Extra features
Covers 15 European markets
Extensive stock options from NYSE and NASDAQ, including major companies
Pros and cons
👍 Pros
• Coverage of 15 major European markets
• A vast range of stocks, including popular ones like Apple and Amazon
• Preferable trade requirements for UK-listed stocks
👎 Cons
• E-wallet deposits come with a 1-2% fee
Interactive Brokers
Interactive Brokers (IBKR) has firmly established its dominance as one of the most versatile and comprehensive investment platforms available to modern traders. At its core, the platform provides a holistic trading experience by offering access to various financial instruments, ranging from stocks and options to forex, cryptocurrencies, and more.
The recent addition of European stocks exemplifies IBKR's relentless drive for expansion and inclusivity. With over 17,500 U.S. stocks available for trading, a focus on penny stocks through the OTCBB, and an impressive international footprint covering 150 exchanges in 33 countries, the platform's breadth is commendable. Moreover, the introduction of fractional share trading on major U.S. stock exchanges and select European stocks underscores IBKR's endeavor to democratize stock trading.
However, where IBKR truly excels is in its proprietary SmartRouting system, designed specifically for professional traders. This system automatically discerns and relays the best available stock prices, ensuring optimal execution. A transparent fee structure, characterized by a $5 cost for trading 1,000 shares (waived off for IBKR Lite clients) and similar charges for OTCBB stocks, adds to the platform's allure. Despite its myriad advantages, including leading the fractional share trading sphere, the platform's complexity may deter beginner traders.
Extra features
Dividend reinvestment settings for the entire account
Advanced TWS Market Scanners for global market insights
Pros and cons
👍 Pros
• Extensive range of US stocks available for short and long trades
• Access to 90+ global stock exchanges
• Fractional share trading for key US stocks
• European stock availability
👎 Cons
• Might be overwhelming for beginners
How to choose a trading app in Europe?
Choosing a trading app in Europe can be a complex and important decision. Here are 4-5 tips to help you make an informed choice:
Safety and regulation
Look for a Forex broker that is regulated by a reputable financial authority, such as an international regulatory agency like ASIC (Australia), FCA (UK), or CySEC (Cyprus). This helps ensure that your funds are protected and that the broker operates transparently and ethically. The broker should have data protection and risk management measures in place. More importantly, check the broker's security measures to prevent hackers, like SSL encryption.
Trading conditions and fees
Consider the trading conditions and fees offered by different brokers, including the spread, leverage, and execution speed. Also, check if there are any hidden fees or charges, such as deposit and withdrawal fees, and if the broker offers negative balance protection.
Trading platforms
Choose a Forex broker that offers a user-friendly and reliable trading platform. It should be easy to use, with advanced charting, technical analysis tools, and automated trading options if you are interested in that. Check whether they also have a mobile app so you can trade on the go.
Customer support
Ensure the Forex broker provides excellent customer support, including email, phone, and live chat. Check if the broker has a dedicated support team available 24/7 and if they are responsive to inquiries and requests. If they're available in local languages, even better.
Reputation and track record
Research the reputation and track record of the Forex broker, including their financial stability, client satisfaction, and any notable events or incidents. Read reviews and testimonials from other traders, and seek the opinions of professional traders or financial advisors.
It's important to remember that Forex trading involves significant risk, and it's always best to consult with a financial advisor and thoroughly research the market before making any trading decisions.
How to start trading stock in Europe?
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1
Choose how you want to buy. Begin by deciding your method
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2
Develop a plan. Understand your financial goals, risk tolerance, and time horizon. Your strategy should align with these factors
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Pick a broker. Opt for a reputable European broker—research fees, platform usability, and customer service before deciding
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Start trading. Once set up, familiarize yourself with the platform and start with small trades to gain confidence
What are the best trading apps for beginners in Europe?
For European beginner traders, trading apps with features like copy trading, PAMM trading capabilities, and rich educational materials can be a boon. Copy trading automatically lets users mimic the trades of experienced investors, while PAMM trading lets one invest in a PAMM account and get a share of its profit. Among the top contenders, RoboForex and IC Markets shine out. Their user-friendly interfaces and extensive educational resources make initiating into the trading world much more approachable.
Can I trade with an international stock broker?
Trading with an international stock broker is entirely possible. However, the broker must be regulated and accept clients from Europe. By ensuring they are regulated, you guarantee trustworthiness and adherence to specific standards and regulations. Always check their licensing to ensure a safe and legal trading experience.
Do I pay taxes for stock trading in Europe?
Yes, stock trading in Europe does come with tax implications. Unlike standard wage income, profits from stock trading, like dividends and capital gains, have distinct tax rates. For instance, if you bought shares at 200 Euros and sold them for 250 Euros, you'd be taxed on the 50 Euros profit. These rates can differ based on your country of residence. Many European countries offer online platforms where individuals can quickly settle their tax dues on stock trading profits.
FAQs
Which stock platform is best in Europe?
eToro is considered one of the premier stock platforms in Europe. Its prominence is attributed to its user-centric design, zero-commission stock trades, and unique social trading features, enabling users to mimic successful investors' trades.
How to trade stocks in Europe?
Follow these steps:
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1
Choose your buying method
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2
Formulate your strategy
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3
Select a broker
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4
Begin your trading journey
What is the best stock trading app to use?
TD Ameritrade is globally recognized for its robust stock trading app. It's known for its comprehensive research tools, a vast range of trading options, and a dependable platform, making it a top pick for investors around the world.
Do I pay taxes for stock trading?
Certainly, stock traders are generally required to pay capital gains tax on their profits. The rate and specific details of this tax vary by country, but it's crucial for traders to be aware of their tax obligations and consult local tax regulations or professionals.
Glossary for novice traders
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Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
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Investor
An investor is an individual, who invests money in an asset with the expectation that its value would appreciate in the future. The asset can be anything, including a bond, debenture, mutual fund, equity, gold, silver, exchange-traded funds (ETFs), and real-estate property.
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CFD
CFD is a contract between an investor/trader and seller that demonstrates that the trader will need to pay the price difference between the current value of the asset and its value at the time of contract to the seller.
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Extra
Xetra is a German Stock Exchange trading system that the Frankfurt Stock Exchange operates. Deutsche Börse is the parent company of the Frankfurt Stock Exchange.
Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).